Arbitrum Forecast, CLARITY Act Setback and New Tokenized Stock Rules Shape Crypto Landscape

US lawmakers missed a chance to pass the Digital Asset Market Clarity (CLARITY) Act, but regulatory activity continued across the sector. The SEC introduced a five‑year exemption for tokenized US stock trading, the CFTC issued a no‑action stance for passive software providers, and Standard Chartered issued a bullish price target for Arbitrum (ARB). Meanwhile, the House Committee moved forward on a Strategic Bitcoin Reserve and a Digital Asset Tax Certainty Act.

CLARITY Act fails to secure cloture

The Senate vote on a cloture motion for the CLARITY Act fell short, with 49 votes in favor and 50 against the 60 needed. Senators indicated the limited legislative calendar makes a 2026 compromise unlikely, though some lawmakers said they remain committed to future action.

SEC grants limited tokenized‑stock exemption

Two days after the CLARITY vote, the SEC announced a five‑year exemption that allows limited trading of tokenized US stocks on decentralized public blockchains using automated market makers. The exemption does not cover “synthetic” stock tokens that lack full shareholder rights, affecting many existing tokenized‑stock projects.

CFTC proposes relief for crypto‑derivatives access

The Commodity Futures Trading Commission issued a no‑action position for “passive software” providers that connect users to CFTC‑registered derivatives firms, potentially easing the integration of crypto wallets with regulated perpetual contracts and prediction markets. The agency also submitted draft crypto‑asset market rules to the White House, currently at the prerule stage.

House advances Bitcoin Reserve legislation

The American Reserve Modernization Act of 2026 passed the House Committee on Financial Services, formalizing a Strategic Bitcoin Reserve and creating a Digital Asset Stockpile of forfeited cryptocurrencies within the Treasury. The bill requires quarterly audits and proof‑of‑reserve reports from federal agencies.

Standard Chartered predicts 70‑fold rise for Arbitrum

Standard Chartered’s global head of digital assets research, Geoff Kendrick, projected that Arbitrum’s (ARB) price could reach $10 by 2030, representing roughly a 70× increase from current levels. The outlook is based on the network’s revenue share model, with Robinhood Chain expected to boost September revenue to $5 million. Risks cited include slower tokenization adoption and competition from other layer‑2 solutions.

Market snapshot

• Bitcoin (BTC) up 5.9% to $81,185
• Ethereum (ETH) up 6.6% to $2,639
• Top weekly altcoin gainers: NEAR (+76.4%), Arbitrum (ARB) (+64.3%), Ethena (ENA) (+61.6%)
• Top weekly altcoin losers: Stable (STABLE) –11.6%, Pi (PI) –11.3%, SPX6900 (SPX) –1.8%